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Bac 401 Audit Practice And Investigation Question Paper
Exam Name: Bac 401 Audit Practice And Investigation
Course: Bachelor Of Commerce
Category: Kenyatta University question papers
UNIVERSITY EXAMINATIONS 2011/2012
FIRST SEMESTER EXAMINATION FOR THE DEGREE OF BACHELOR OF
BAC 401: AUDITING, PRACTICE AND INVESTIGATIONS
Tuesday 6th December 2011
Answer ALL questions.
a) Define the term risk-based auditing.
b) Explain what is meant by the terms:
c) State and explain the control procedures you would undertake in an accounting and
internal control system.
d) List and briefly explain the limitations of internal control system.
a) A medium size firm has been your client for several years has changed from manual
accounting system to a computerized one. State and explain the factors which will take
into account when planning the first audit under the new system.
b) List and briefly explain FIVE advantages of Computer-Assisted Audit Techniques.
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In carrying out an audit, the independent auditor must consider the reliability of audit evidence.
Among other things the auditor is required to pay attention to reliability of evidence from third
parties and specialists. The auditor is able to verify and ascertain the reasons for material
differences between balances stated in the books of the client and those available from external
a) Give concise definition of:
b) Detail the procedures you would follow in verifying material differences stated in the
above preamble, with regard to:
Matters confirmed in the letter, the auditor receives direct from the bank.
The replies to a debtor’s circularization.
Valuation of the company’s property by a valuer.
a) Define what is meant by Management Letter.
b) Explain the purpose of a Management Letter.
c) Briefly explain the following types of audits:
Value for money audits
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